Saudi Aramco is eyeing up more business in the US where President Donald Trump’s tax cuts and pro hydrocarbon stance are making business attractive, the firm’s CEO Amin Nasser told Reuters.
Aramco presently runs a major refinery in Port Arthur, Texas. It is also weighing up what could be the world’s largest initial public offer (IPO) and is looking at listing its shares in New York among several potential options.
“We are looking at new business opportunities in the US and with the tax cuts it will make it much more profitable … It is part of our strategy to grow our business in the US,” Nasser said in an interview at the World Economic Forum in Davos.
“The Trump administration has been positive towards the energy industry. As long as what they are doing is in the interest of all and the US economy is growing, we are happy.
“The whole oil industry is benefiting from the current administration.”
Trump is due to speak in Davos today and he has backed Aramco’s listing in New York.
Saudi Arabia has honed in on New York, London and Hong Kong, either individually or in a combination of two or all three, for the international portion of the IPO, according to previous reports.
